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ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

ADNOC L&S to pay $136.5m dividend

This is equivalent to 6.78 fils per share, the company said.

Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030

The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...

Foreign investments boost Saudi financial market

Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...

Policy and infra drive Dubai’s global rise

The emirate's pro-business policies, dedicated trade zones, and emphasis on tech innovation position it as a premier financial hub, George...
  • Dubai, historically a pivotal trading center, has evolved into a global hub for commerce, leveraging its strategic location and world-class infrastructure, says an expert.
  • Business-friendly policies, specialized trade zones, and a commitment to tech innovation make the city a leading financial marketplace, adds George Pavel of Capex.com.

Qatar eyes North Field to boost liquefied gas output

Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
  • Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
  • The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029

Security risks hit gas flow amidst Israel-Hamas row

Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
  • Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in weekly losses of hundreds of millions of dollars
  • Chevron shifts gas exports as Israeli government declares market emergency, while local supply maintained with power plants ready with alternative fuels for energy stability

Gulf Common Market aims for economic unity by 2025

The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
  • The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
  • Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region

Dubai’s sustainable vision beyond skyline

Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
  • Dubai, renowned for its iconic skyline and luxury, is now leading the charge against climate change with investments and initiatives such as Dubai Clean Energy Strategy 2050
  • The emirate prioritizes public transit, electric vehicles, and waste-to-energy solutions, placing global collaboration and partnerships at the heart of its climate strategy

Gulf Common Market aims for economic unity by 2025

The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between...
  • The bloc's initiative aims for a customs union by 2024, fostering competition and ensuring the smooth flow of goods between Gulf countries through joint economic action
  • Additionally, the Gulf Common Market will also contribute to regional political stability, bolstering military cooperation and enhance tourism and investments in the region

Infra investments crucial to Dubai’s growth and global allure

Dubai's iconic skyline and architectural marvels have garnered global attention, offering stunning views for visitors and residents alike. This allure...
  • The emirate's strategic investments in infrastructure, from the Dubai International Airport to iconic landmarks like the Burj Al Arab, have bolstered its global stature
  • With a prime focus on sustainability and a vision for 2040, Dubai continues to charm and attract businesses, tourists, and investors from across the globe

Vision 2040: Saudi Arabia’s new economic blueprint

Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...
  • Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements
  • With a focus on diversifying the economy, enhancing global competitiveness, and fostering innovation, Saudi Arabia is poised to redefine its global economic standing

World Bank expects Gulf economies to grow by 1 percent in 2023

Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...
  • In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024.
  • The World Bank added that Saudi Arabia's economy, the largest in the region, will contract by 0.9 percent in 2023 before rebounding to grow by 4.1 percent in 2024.

UAE emerges as crypto powerhouse amid global shifts

Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized...
  • Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized ones, says a report
  • Between July 2022 and June 2023, the MENA region registered $389.8 billion in on-chain value, with Saudi Arabia experiencing a 12% annual crypto transaction growth

Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030

The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...

Company News

Latest News

UAE, KSA lead as tech and energy drive IPOs in GCC

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...

Global HQs help Saudi youth boost skills, get jobs

The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...

GCC at the forefront of 2024 sukuk market expansion

This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major...

Most Read

Demand for lifestyle experiences in GCC has increased: SHG CEO

Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...
  • Antonio Gonzalez, CEO of Sunset Hospitality Group said that Dubai remains a key area of focus for the Group.
  • The Group will now be entering Portugal over the next two months, its most recent market addition.

Qatar to set up Centre for Fourth Industrial Revolution

Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...
  • A Centre for the Fourth Industrial Revolution will also be established in Vietnam.
  • WEF and GovTech Campus Deutschland announces the establishment of the Global Government Technology Centre Berlin.

Saudi startups soar amid surge in venture investments

Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
  • Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to support Vision 2030,
  • The Saudi Venture Capital Company plays an important role, with more than $2.1 billion invested in various sectors, marking a new era of innovation and growth.